Amrutanjan acquires Fruitnik for Rs 26.2 crore

MUMBAI: Amrutanjan Health Care has bought pulp-based flavoured fruit drink brand Fruitnik for Rs 26.2 crore, marking its foray into the Rs 1,500-crore fruit juice market. The Chennai-based company , famous for its pain-relief balm Amrutanjan, earns most of its revenue from ayurvedic and allopathic over-the-counter products, primarily in its home market—Tamil Nadu.

The company hopes to expand its potfolio by entering newer businesses such as foods and homecare. Launched in 1958, Fruitnik is a popular brand in South India.